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Mar 20, 2013
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economists point to concern about the debt and deficit. uncertain effects of the obamacare. especially the weight of tax increases. >> it's negative for economic growth overtime. global economy, we compete, with many other nations. part of the competition is taxes. >> conservative critics argue big government fools itself to thinking taxing and spend willing make the economy grow. >> it assumes you take money from the economy right pocket and put in the left pocket and manualicly you more money. >> administration defenders, though, look at it differently. >> under normal circumstances, you don't want the government intervening. in the circumstances where we have the weak demand this is a good time for the government to step in. >> even though who want to spend less would increase spending at lower rate. >> bret: house lawmakers vote down budget proposals as an alternative to g.o.p. plan put forward by paul ryan. senators approved a stop gap spending plan. continuing resolution to keep the government funded after the end of the month. senate has, now it heads to the house. am
economists point to concern about the debt and deficit. uncertain effects of the obamacare. especially the weight of tax increases. >> it's negative for economic growth overtime. global economy, we compete, with many other nations. part of the competition is taxes. >> conservative critics argue big government fools itself to thinking taxing and spend willing make the economy grow. >> it assumes you take money from the economy right pocket and put in the left pocket and...
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Mar 22, 2013
03/13
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can we have a safety net that survives and still reduce the deficit? paul ryan says no. >> at least budgets are passing around here for a change. the government's going to have to learn to do more with less, it's not the government's money, it's the people's money. >> the senate democrats are considering a number of balances ever-- >> and house committee chair paul ryan telling us republicans and democrats are still world's apart. well, that is an understatement. we saw that just an hour ago. the democratic-led senate defeating the ryan house budget 40-59. so is there any hope left? here is congressman paul ryan. >> great to see you. >> great it to see you again. >> greta: i want to talk about the budget that passed today, i imagine you're happy. >> we're very happy. we passed a balanced budget and it's important we owe the country a reasonable plan and grows the economy. balancing the budget is not just a statistical exercise it's the necessary means to a healthier economy, it creates more jobs and helps people keep more of hard earned money and a con
can we have a safety net that survives and still reduce the deficit? paul ryan says no. >> at least budgets are passing around here for a change. the government's going to have to learn to do more with less, it's not the government's money, it's the people's money. >> the senate democrats are considering a number of balances ever-- >> and house committee chair paul ryan telling us republicans and democrats are still world's apart. well, that is an understatement. we saw that...
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Mar 23, 2013
03/13
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and would do little to cut spending or the deficit. four democrats mark pryor of arkansas, kay haigen of north carolina, mark baggich of alaska and max bachus of montana all up for reelection in november joined senate republicans who voted against it. even though the margin was close senate leaders were praising colleagues for a job well done. >> i know everyone is exhausted. and you may not feel it at the moment but this is one of the senate's finest days in recent years and i commend everyone who has participated in this extraordinary debate. >> first of all, over the last two decades the average budget resolution considered 78 amendments. we have done 101. average vote 37 amendments we have done twice as many. doing this has been herculean feat. >> harris: next the senate must reconcile the budget with a plan passed by republicans. now, context showing how differently the plans would deal with the economy. the senate plan calls for $46.5 trillion in spending, nearly $5 trillion more than the house plan and more revenue an additional
and would do little to cut spending or the deficit. four democrats mark pryor of arkansas, kay haigen of north carolina, mark baggich of alaska and max bachus of montana all up for reelection in november joined senate republicans who voted against it. even though the margin was close senate leaders were praising colleagues for a job well done. >> i know everyone is exhausted. and you may not feel it at the moment but this is one of the senate's finest days in recent years and i commend...
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Mar 26, 2013
03/13
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the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors, feeding children, cutting the department of education. they don't want to cut the deficit, they want to do it to get rid of programs they don't like. >> it's killing two birds with one stone. jared makes a great point. the way things are supposed to work is when we come out of these recessions we're supposed to grow and everything is supposed to get better. that's not happening yet. not happening yet and we have at the same time the incredible income inch quality issue. whatever you think about the tax cuts, when you have a middle class th
the deficit has always been a canard. when you're in office, you don't take that much notice of the deficit. it's not number one priority. when you're out of office, it's a way to hit the people who are in office. >> i think that's a good point, lee, it isn't lost on me and i don't think it's lost on many people that when people like paul ryan talk about cutting the deficit. they always want to do so by going after programs they're ideologically opposed to. programs for feeding seniors,...
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Mar 26, 2013
03/13
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they are making up a billion dollar budget deficit. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network. >> what's the primary reason here? >> there is a few reasons mostly because it costs more money. i am going to show you some numbers. they are really startling. when it feels like we are not making money we always say that. when you look at the data we are not. median household income is over 51,000 dollars. take a look at that on a time line. 6 percent less than when the economic recovery began in summer of 2009 and less than when the recession started. obviously we are not making enough money. all of this data comes from research. they also say one of the key reasons speegsly now because - especially n
they are making up a billion dollar budget deficit. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network....
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Mar 21, 2013
03/13
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this year, the democrat deficit would be 164 billion dollars bigger than the republican deficit. and next year, 308 billion dollars, just to give you a sense of it, by 2015 the republican deficit would be down to 125 billion and the democrat deficit 433 billion. there's a big indication of the difference between the parties when you look at the budgets of the budget blueprints of the republicans in the house and the democrats in senate and republicans want to restrain spending and democrats want to continue to blow up the budget and eventually, over the decade add 1 trillion dollars of new taxes. >> sean: yeah, so 1 trillion in new taxes over ten years, a trillion dollars, this is like they know no other way, all right? that's point one, but yet, they still will give us almost trillion dollar deficits as far as the eye can see throughout the entire ten-year period. here is the big issue though, i want to see obamacare repealed, but it's not going to happen through paul ryan's budget plan. the republicans, if they want that to happen, to get ryan's plan through, they're going to h
this year, the democrat deficit would be 164 billion dollars bigger than the republican deficit. and next year, 308 billion dollars, just to give you a sense of it, by 2015 the republican deficit would be down to 125 billion and the democrat deficit 433 billion. there's a big indication of the difference between the parties when you look at the budgets of the budget blueprints of the republicans in the house and the democrats in senate and republicans want to restrain spending and democrats...
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Mar 20, 2013
03/13
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secondarily, if you say deficit reduction, the partisan are leeched out. we are talking about whether it will work to balance the budget. if along the way 35 million become uninsured, that's sad but we don't talk about it because cbo didn't mention it in the score. that's the great trick of paul ryan to recognize if you only talk about budget deficit, where does your budget put the deficit 20, 30 years from now, the amount of things you sneak in under that cloak that you can never put into the conversation in a serious way in normal times is tremendous. that's the central political innovation of his career. >> the favorite thing in the accounting discussion is compare the government to a family, saying you couldn't -- well, families do run debt, they cannot afford to buy their houses for cash, so they have a thing called a mortgage, which is the national debt of the family in effect. they try to oversimplify everything in this, but is there some break through in this point of republicans saying you know what, the debt isn't such a serious problem? >> there
secondarily, if you say deficit reduction, the partisan are leeched out. we are talking about whether it will work to balance the budget. if along the way 35 million become uninsured, that's sad but we don't talk about it because cbo didn't mention it in the score. that's the great trick of paul ryan to recognize if you only talk about budget deficit, where does your budget put the deficit 20, 30 years from now, the amount of things you sneak in under that cloak that you can never put into the...
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Mar 18, 2013
03/13
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then we address the long term budget deficit in a balanced way where we ask for shared responsibility as opposed to the republican plan which provides another tax break wind fall to very wealthy people at the end of everybody else. the expense of the middle class, the expense of commitments to seniors. so our focus right now is to number one, do no harm to the economy. number two, invest in a jobs plan that will help put people back to work. whether building roads or bridges or infrastructure or other things important to our economy. >> why will it take until 2040 to balance the budget under your plan? >> well, if you actually look at the past 40 years, we've only had four balanced budgets. those were during the clinton years and once leaning over to the bush years and then they squandered that balance. so the reason we do that is our focus is on jobs, craig. our focus is on meeting our commitments to seniors. we will not balance the budget on the backs of our kids' education or on the backs of our commitments to seniors. whether it is under medicare or medicaid. what we do is immedia
then we address the long term budget deficit in a balanced way where we ask for shared responsibility as opposed to the republican plan which provides another tax break wind fall to very wealthy people at the end of everybody else. the expense of the middle class, the expense of commitments to seniors. so our focus right now is to number one, do no harm to the economy. number two, invest in a jobs plan that will help put people back to work. whether building roads or bridges or infrastructure...
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Mar 20, 2013
03/13
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 22, 2013
03/13
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. >>> faced with a billion dollar deficit, dozens of elementary schools in chicago are being closed. officials claim most of the 54 elementary schools to be shut down are half empty anyway. but opponents say these closures mostly in poor and black areas will further erode neighborhoods and endanger children who will now have to travel even further. >>> all right. one of california's most popular tourist attractions celebrating a major milestone, the rock, better known as alcatraz, is marking a half a century without its famous inhabitants. 50 years ago this week the last prisoners left the federal penitentiary, which is in the middle of san francisco bay. if you visit soon, you will be able to see a new exhibit there, photographs of the prison on its very final day. you ever been? >> no. >> it's very cool. i don't know why, it's just an empty prison but something about it is cool. >>> time to check the weather across the nation. it still feels like winter almost everywhere. atlanta and nashville will see a messy rain/snow mix. blustery around washington, d.c. rain from little rock to
. >>> faced with a billion dollar deficit, dozens of elementary schools in chicago are being closed. officials claim most of the 54 elementary schools to be shut down are half empty anyway. but opponents say these closures mostly in poor and black areas will further erode neighborhoods and endanger children who will now have to travel even further. >>> all right. one of california's most popular tourist attractions celebrating a major milestone, the rock, better known as...
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Mar 18, 2013
03/13
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second to the economy is the deficit. it goats back to the fundamental issue of moderation. this is the achilles' heel for the republican party. everything is just black and white. whereas most folks, most americans in the middle believe in moderation. whether we do our own taxes or finances, we sit down and figure out, how do we cut a little here, save alternates there, increase revenue? so the problem with the republican party is they're out of step how most of us work on a day-to-day basis. that's something that the president has been so good at reflecting in his bigger vision of deficit reduction and the economy as a bigger issue. >>> clarence, you still here boehner say no new ref, though the american people are saying new revenue. they're saying we don't have an immediate crisis, but we need immediate cuts. why are we cutting head start and other things immediately if there's no immediate problem. a new republican leaning poll, a republican-leaning poll says just 16% of americans said the deficit and the debt with their top concerns. 38% said it was the economy and job
second to the economy is the deficit. it goats back to the fundamental issue of moderation. this is the achilles' heel for the republican party. everything is just black and white. whereas most folks, most americans in the middle believe in moderation. whether we do our own taxes or finances, we sit down and figure out, how do we cut a little here, save alternates there, increase revenue? so the problem with the republican party is they're out of step how most of us work on a day-to-day basis....
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Mar 22, 2013
03/13
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more than 50 chicago schools will now close as a plan to reduce the district's 1 billion-dollar budget deficit. officials say that many of those schools are half empty and that this move will save hundreds of millions of dollars. a louisiana judge is ruling that a new law that bars felons from owning guns violates that state's constitution. residents passing an amendment in november of last year, that challenged law now heads to the supreme court. now for a segment that we like to call what the hill? and you will understand why in just a second it was supposed to be money for the future but 15 years later it's just money down the drain. $24 million in federal funding was spent on a four building complex named after democratic congressman james clyburn. the problem just one building has been built and another 80 million is needed to finish it. that plan to end mail delivery on saturdays just return to served sender. congress has just passed legislation that requires saturday delivery. the postal service planned to stop saturday service lower cost after it lost $16 billion last year. the fbi is
more than 50 chicago schools will now close as a plan to reduce the district's 1 billion-dollar budget deficit. officials say that many of those schools are half empty and that this move will save hundreds of millions of dollars. a louisiana judge is ruling that a new law that bars felons from owning guns violates that state's constitution. residents passing an amendment in november of last year, that challenged law now heads to the supreme court. now for a segment that we like to call what the...
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Mar 21, 2013
03/13
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if the sequester stays in you've got over 3 1/2 trillion dollars of deficit reduction already so we don't have an immediate crisis in terms of debt. in fact for the next ten years it's in sustainable place. >> we do not have an immediate debt crisis, but we all know we have one looming. >> greta: turns out a majority of americans disagree with the president and the speaker of the house. a new poll showing, a fox poll, that 68% of americans describe the national debt as an immediate problem. only 27% say the debt can be handled in the future. mayor, what do you think? the speaker and the president don't think it's an immediate problem? >> i think the american people are far better economists than the people in washington. the reality we do have a serious debt problem. it's been accumulating now for four or five years. under obama it's been accumulating at massive amounts and there's no serious plan about cutting it. the numbers he was talking about, the cuts, many of which really aren't cuts at all, actually, he hasn't cut anything. he's reduced to some extent the rate of increase, but he
if the sequester stays in you've got over 3 1/2 trillion dollars of deficit reduction already so we don't have an immediate crisis in terms of debt. in fact for the next ten years it's in sustainable place. >> we do not have an immediate debt crisis, but we all know we have one looming. >> greta: turns out a majority of americans disagree with the president and the speaker of the house. a new poll showing, a fox poll, that 68% of americans describe the national debt as an immediate...
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Mar 20, 2013
03/13
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the deficit according to their budget in the year 2023, will be $5 6 billion. in contrast the budget that we will be offering will be surplus, surplus in 2023. will finally allow us to start paying down the debt. there are no reforms. no significant reforms at all. in medicare, medicaid, social security. how you can have a vision for this country going forward and not at least discuss possible, reasonable reforms to those programs is beyond even somehow it passed out of the senate committee. defense is cut by an additional quarter of a trillion dollars. a cut by an additional quarter of a trillion dollars over the sequester cuts we already had and over the reductions the defense department voluntarily took upon itself during the last budget process. i come before this body before, mr. chairman, and encouraged this body in a bipartisan fashion to look to the defense department as possible ways to save money. under the belief there must be some money in the defense department that can be saved in a responsible fashion. what the senate has done goes so far beyond
the deficit according to their budget in the year 2023, will be $5 6 billion. in contrast the budget that we will be offering will be surplus, surplus in 2023. will finally allow us to start paying down the debt. there are no reforms. no significant reforms at all. in medicare, medicaid, social security. how you can have a vision for this country going forward and not at least discuss possible, reasonable reforms to those programs is beyond even somehow it passed out of the senate committee....
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Mar 21, 2013
03/13
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what we need over the long term is a sustain away budget deficit. you need the dragon to be an appropriate size relative to gdp. maybe it should stabilize around 40%, 50%, but that allows us over a very long time to shrink budget deficits, and we don't need to focus on doing it over a five to ten-years window. >>> the book is "mr. penny and the dragon of domeville." thank you both. much more ahead. like when i fell asleep at movie night with all my co-workers and i totally dream-snorted myself awake. i actually popped my head back so fast, i'm pretty sure i have whiplash. oh my go... [ female announcer ] stress sweat can happen to anyone, anytime, and it smells worse than ordinary sweat. get 4x the protection against stress sweat. introducing new secret clinical strength stress response scent. ♪ introducing new secret clinical strength stress response scent. vo: to the elegant trim es in each and every piece, bold will make your reality a dream. i took something for my sinuses, but i still have this cough. [ male announcer ] a lot of sinus product
what we need over the long term is a sustain away budget deficit. you need the dragon to be an appropriate size relative to gdp. maybe it should stabilize around 40%, 50%, but that allows us over a very long time to shrink budget deficits, and we don't need to focus on doing it over a five to ten-years window. >>> the book is "mr. penny and the dragon of domeville." thank you both. much more ahead. like when i fell asleep at movie night with all my co-workers and i totally...
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Mar 25, 2013
03/13
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stimulus plan and just one example of the kind of spending decisions that add up to massive debt and deficit. tonight, there is a week-long series on what to cut. >> government is not the solution to the problem. government the problem. >> rare of big government is over. >> every president called to streamline federal bureaucracy but none succeeded. >> government is largeer than it ever has been. the debt is growing at record rate. >> adjusted for inflation. government spending went up from $882 billion spent every year in 1980s to $1.48 trillion in the 1990s. $2.24 trillion a year and the first decade of the 21st century. mast ited that government will have spent almost as much in the first four years as a new decade as in the 1990s. >> in the past there bar crisis like world war ii or the korean war, nondefense spending was cut by 20 to 30%. >> that didn't happen after 9/11 or after the financial crisis. >> nothing typifies the expansion of government as much as the growing wealth of the washington, d.c. area. region with few neutral resources and little manufacturerring to produce well. t
stimulus plan and just one example of the kind of spending decisions that add up to massive debt and deficit. tonight, there is a week-long series on what to cut. >> government is not the solution to the problem. government the problem. >> rare of big government is over. >> every president called to streamline federal bureaucracy but none succeeded. >> government is largeer than it ever has been. the debt is growing at record rate. >> adjusted for inflation....
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Mar 20, 2013
03/13
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they've been talking about debt, deficit, austerity, cuts, and then they say that you're just outrageous or a kook if you don't buy their line. one of the reasons they've shot so much our way is because we are not afraid, we believe that we're going to stand up and stand for what we believe? >> well, let's really focus on kookism now because your budget includes more money for food assistance program. >> right. >> when michele bachmann shoek at cpac on saturday she made a gross falsehood, a claim about money for poverty programs winding up in the hands of bureaucrats. let me read how "the washington post" concludes its four pinocchio ruling on that claim. so bachmann yet again earns four pinocchios but there really aren't enough pinocchios so such misleading use of statistics in a major speech. sir, if there is one kook in that house, she surely must qualify. >> well, you know, she is standing up for her ideological position, which is -- >> congressman, she's telling lies. that's not an ideological position, that's an outright lie. >> true, martin, but it does sort of advance what argume
they've been talking about debt, deficit, austerity, cuts, and then they say that you're just outrageous or a kook if you don't buy their line. one of the reasons they've shot so much our way is because we are not afraid, we believe that we're going to stand up and stand for what we believe? >> well, let's really focus on kookism now because your budget includes more money for food assistance program. >> right. >> when michele bachmann shoek at cpac on saturday she made a...
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Mar 19, 2013
03/13
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on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very wealthy people. so the republican plan, they said we'll get rid of your tax expenditures for high-income people, but we'll bring down your top rate. so in the end the folks at the top get a very big windfall. we say let's eliminate some of those tax breaks for very wealthy people in order to help reduce our deficit, so when you combine that savings with targeted cuts, you can reduce it in a balanced way rather than increasing the tax burden on the middle class which is what their budget will do. we also want to make sure we keep our commitments to our s
on the jobs deficit to help deal with the budget deficit. now, we also reduce the deficit in a steady, sustained way. we do it with balance. we do it with targeted cuts, but we also do it, mr. chairman, by eliminating some of the tax breaks and tax expenditures for very high-income individuals. we heard from governor romney and we heard from the chairman of the budget committee last fall and this year that there are trillions of dollars of tax expenditures that disproportionately benefit very...
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Mar 22, 2013
03/13
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they are projecting a billion dollars deficit. it would save money the next take aid. when did you know that grandma was the one? when her sister dumped me. oh dad, you remember my friend alex? yeah. the one that had the work done... [ male announcer ] sometimes being too transparent can be a bad thing. this looks good! [ male announcer ] but not with the oscar mayer deli fresh clear pack. it's what you see is what you get food. i worked a patrol unit for 17 years in the city of baltimore. when i first started experiencing the pain, it's hard to describe because you have a numbness but yet you have the pain like thousands of needles sticking in your foot. it was progressively getting worse, and at that point, i knew i had to do something. when i went back to my health care professional, that's when she suggested the lyrica. once i started taking the lyrica, the pain started subsiding. [ male announcer ] it's known that diabetes damages nerves. lyrica is fda approved to treat diabetic nerve pain. lyrica is not for everyone. it may cause serious allergic reactions or sui
they are projecting a billion dollars deficit. it would save money the next take aid. when did you know that grandma was the one? when her sister dumped me. oh dad, you remember my friend alex? yeah. the one that had the work done... [ male announcer ] sometimes being too transparent can be a bad thing. this looks good! [ male announcer ] but not with the oscar mayer deli fresh clear pack. it's what you see is what you get food. i worked a patrol unit for 17 years in the city of baltimore. when...
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Mar 20, 2013
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according to the weekly standard after running deficits 350,000 a year for years. the senate hair care center is going private. and according to the sergeant at arms who is responsible for trying out the new model, government subsidized haircuts shaves and shine will be a thing of the past and you the taxpayer will no longer foot the bill for the grooming of your senators. the american taxpayers have forked over 5.25 million dollars for, yes, senate hair care. pretty unbelievable, or maybe not. because we do know how important the perfect haircut is well, to certain senators. remember john edwards? remember this? ♪ i feel pretty, oh so pretty ♪ ♪ i feel pretty and witty and bright ♪ ♪ >> oh, what a classic. that's all the time we have left this evening. as always, thank you for being with us. let not your heart be troubled, the news continues. greta is next and see you back here tomorrow night. greta, take it away. >> greta: this is a fox news alert. an 8th marine has died after a mortar shell explosion during a training accident in nevada. several marine
according to the weekly standard after running deficits 350,000 a year for years. the senate hair care center is going private. and according to the sergeant at arms who is responsible for trying out the new model, government subsidized haircuts shaves and shine will be a thing of the past and you the taxpayer will no longer foot the bill for the grooming of your senators. the american taxpayers have forked over 5.25 million dollars for, yes, senate hair care. pretty unbelievable, or maybe not....
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Mar 21, 2013
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the plan reduced the deficit through the balance approach that clued additional targets cuts and also revenue from closing a lot of the special interest tax breaks for very wealthy people, tax breaks which mitt romney and paul ryan talked been on the campaign trail. >> neil: they were without raising the overall rate. now we have the rates raised. so republicans talk of a need for a trigger. they might go along with this tax break stuff and all their closing the loopholes, that they did agree it's sort of wasting time and money and the tax code, but you guys have then got to, as part of the trigger, agree simultaneously to these cuts you talked about. what do you make of that? >> well, first of all, the difference is republicans have never said they're willing to close some of those tax loopholes for the purpose of reducing the deficit. which is what the bipartisan -- >> neil: i got a couple on you. i suspect no angel in the ranks of either party. but they did say that they would be open to closing these loopholes but without this being the only negotiating point on the part of democr
the plan reduced the deficit through the balance approach that clued additional targets cuts and also revenue from closing a lot of the special interest tax breaks for very wealthy people, tax breaks which mitt romney and paul ryan talked been on the campaign trail. >> neil: they were without raising the overall rate. now we have the rates raised. so republicans talk of a need for a trigger. they might go along with this tax break stuff and all their closing the loopholes, that they did...
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Mar 22, 2013
03/13
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this is going to be added on the deficit. they constructed a budget, that made it look as if, as obama promised, not going to cost the treasury a dime. well, the cbo says it will cost $1.3 trillion over a decade. so there is an increase in $1.3 trillion plus a dime in taxes. so that it ends up looking like it's not going to cost. but there will be increases in taxes everywhere. this one will be canceled. it's ridiculous. this is the one area, medical devices where the u.s. has tremendous advantage in technology over the rest of the world. why would you kill an industry that is so productive? so, the money will be cut. it will have to come out of taxes. the $1.3 trillion will become $1.6 trillion. it will climb. ultimately it will be a drag on the economy. i think ultimately after it hits and you get a train wreck and all the inefficiencies people will say in a couple of years, why don't we adopt a canadian system? cut out the middleman. and stop all the waste. simply have a simple system. government is completely in control a
this is going to be added on the deficit. they constructed a budget, that made it look as if, as obama promised, not going to cost the treasury a dime. well, the cbo says it will cost $1.3 trillion over a decade. so there is an increase in $1.3 trillion plus a dime in taxes. so that it ends up looking like it's not going to cost. but there will be increases in taxes everywhere. this one will be canceled. it's ridiculous. this is the one area, medical devices where the u.s. has tremendous...
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Mar 21, 2013
03/13
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the idea that the obama care would be deficit-neutral and control costs i think has turned out to be a charade. if you look at the longer term projections it looks especially more unlikely today than it did when they were engaged in the budget that allowed it to pass. what i think is interesting on the political side is how republicans are treating the issue right now. there is a debate inside the republican party whether it's wise to continue talking about obamacare. on one hand you have a group that says in effect this is over, this is done, we should tweak it, try to improve it, do what we can. let's not focus op it because it's in the past and discussion of aweer thety. on the other hand people think talk about it all the time because implementation is proving difficult and it will be more difficult as we go along to the republicans' benefit. >> bret: the second group of republicans believe the thing could crater. it could just not work. >> correct. that is a possibility. i think that the comment we just heard, there are thousands of pages of regulation that people haven't read i
the idea that the obama care would be deficit-neutral and control costs i think has turned out to be a charade. if you look at the longer term projections it looks especially more unlikely today than it did when they were engaged in the budget that allowed it to pass. what i think is interesting on the political side is how republicans are treating the issue right now. there is a debate inside the republican party whether it's wise to continue talking about obamacare. on one hand you have a...
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Mar 19, 2013
03/13
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reduction a year when last year our deficit was $1.2 trillion. so this budget plan increases taxes, it increases spending over our current rate and it does nothing to change the debt course of america. we need a plan that can balance the budget. we can do that and still increase spending every year. it will balance in ten years if we stay disciplined, but that's not the plan that's on the floor, and our colleagues need to study it and do not need to be voting for a plan that makes no change in our debt course, that does not create quote but simply borrows more. i thank -- i see my colleague, the democratic whip, i will call him, and would appreciate the opportunity to share these remarks and would yield the floor. mr. durbin: mr. president? the presiding officer: the senator from illinois. mr. durbin: i thank my friend from alabama for yielding. i have 13 unanimous consent requests for committees to meet during today's session of the senate. they have the approval of the majority and minority leaders. i ask unanimous consent these requests be ag
reduction a year when last year our deficit was $1.2 trillion. so this budget plan increases taxes, it increases spending over our current rate and it does nothing to change the debt course of america. we need a plan that can balance the budget. we can do that and still increase spending every year. it will balance in ten years if we stay disciplined, but that's not the plan that's on the floor, and our colleagues need to study it and do not need to be voting for a plan that makes no change in...
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Mar 21, 2013
03/13
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when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of this country is disappearing, and we have 46 million people living in poverty. so common morality, basic morality says who do you ask most significant throeu help with deficit reduction? do you tell annoyed worker who is trug -- do you tell an unkphroeud -- do you tell an unemployed worker we're going to balance the budget on your back or do you say to a huge profitable corporation that in some cases is paying nothing in taxes, we're going to ask you to help us with deficit reduction? mr. president, it is important for us to do what we do too rarely on the floor of the senate: take a hard look
when you're dealing with deficit reduction -- i just described how we got into a deficit situation. but when you're dealing with a deficit situation and you say we need to make sacrifices, it is absolutely appropriate and ask who is best able to make those sacrifices? and right now, as i think most americans know, the wealthiest people in this country are doing phenomenally well. large corporations are enjoying record-breaking profits. that's one group of people. meanwhile, the middle class of...
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Mar 23, 2013
03/13
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guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama administration at pushed the debt from five or six years ago guest: how much debt there was when president obama came to office and how much debt there is now. that is the consistent argument it's getting worse. when you compare the ryan budget to the senate democrats budget there is a different pace of spending, both of them increase spending over time but the democrats by a lot more. host: go ahead bob. caller: we won't really know what's in this thing until the cover is pulled off. we can't trust the media to tell us the truth. and you should really when you have politico on, you should mention if
guest: republicans were hitting deficit spending that the budget that the cr isn't addressing the deficit problem. you put two words on a credit card and didn't pay for them and that's why we have deficit. the war funding is an interesting element. it was a fight between democrats and republicans. democrats cut spending. how they arrived at savings in their bument and republicans said those numbers aren't realistic. host: trnt republicans say thrg have been increases in spending by the obama...
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Mar 21, 2013
03/13
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they are at odds about the budget deficit. they believe the federal government should be required to balance the budget. and when asked to describe the national debt 68 percent said it is an immediate problem. 27 percent said it's something that can be handled in the future. only 4 percent said it's not a problem. >> reveal your weight or pay a penalty. cvs announcing all workers on company healthcare must have an annual wellness review and report their weight, body fat, blood pressure and more. if they don't they will be charged $600 more a year. people not only criticizing the penalty but also wondering this about worker's privacy. in a statement cvs said personal health information would remain private. so we want to know would you reveal this information? send us your comments at foxfriendsfirst@foxnews.com. >>> 9 minutes to the top of the hour. you are looking at president obama arriving at ramallah. this as a short time ago a rocket launched into southern israel. we have a live report from ramallah on the other side of t
they are at odds about the budget deficit. they believe the federal government should be required to balance the budget. and when asked to describe the national debt 68 percent said it is an immediate problem. 27 percent said it's something that can be handled in the future. only 4 percent said it's not a problem. >> reveal your weight or pay a penalty. cvs announcing all workers on company healthcare must have an annual wellness review and report their weight, body fat, blood pressure...
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Mar 20, 2013
03/13
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we could get out of our deficits, we could save social security, medicare and have an economic growth boom that we haven't seen in a long time. >> california alone in one shale oil field has 100 billion barrels of oil. that is california. >> sean: how stupid, we are a stupid country. we're stupid because we allow the government-- why are you looking at me. >> i'm agreeing with you. >> sean: we're a stupid country. >> we need to get out of our own way, but this is a little bit after small detail, but a very important one for business and for america to understand. last week, one of the rules of the obama administration put out was to say that if you're going forward with any sort of project you're going to have to tell us how much carbon that will put out into the-- so it's called the nipa analysis and that's like putting a ten pound weight on everybody's ankle. >> sean: that's a hundred pound weight. >> it sounds like a minor bureaucratic detail, but it will strangle-- >> you guys will weigh in and i hope you'll pick a fight with you here. i've got to tell you, dana, they're not doing
we could get out of our deficits, we could save social security, medicare and have an economic growth boom that we haven't seen in a long time. >> california alone in one shale oil field has 100 billion barrels of oil. that is california. >> sean: how stupid, we are a stupid country. we're stupid because we allow the government-- why are you looking at me. >> i'm agreeing with you. >> sean: we're a stupid country. >> we need to get out of our own way, but this is a...
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Mar 25, 2013
03/13
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deficits have nothing to do, because the federal government reduced its deficit. that doesn't mean wal matt is going to go out and hire a bunch of people. they're not connected and we're having this conversation over and over. >> that's the problem with our side. >> i want to get josh in here. >> the usual circumstance in which government borrowing is crowding out private investment and holding back growth is that interest rates rise because governments trying to borrow money at the same time that companies are trying to raise capital, it makes capital more expensive and it makes difficult for people to invest. we're not seeing it right now. interest rates are extremely low, not just in the short-term, but also in the long run. we have extremely low, 30-year interest rates what that reflects is there's not a lot of demand for capital in the private sector. the government could be boosting the economy by borrowing and spending the money itself. and in the future, if, if we see interest rates starting to rides, that will be in part an indication of expectations of i
deficits have nothing to do, because the federal government reduced its deficit. that doesn't mean wal matt is going to go out and hire a bunch of people. they're not connected and we're having this conversation over and over. >> that's the problem with our side. >> i want to get josh in here. >> the usual circumstance in which government borrowing is crowding out private investment and holding back growth is that interest rates rise because governments trying to borrow money...
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Mar 20, 2013
03/13
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it claims that it reduces the deficit over 10 years by $1.5 trillion. that is not correct. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've been buying ragu for years. [ thinking ] i wonderhat other questionable choices i've made? [ club scene music ] [ sigh of relief ] [ male announcer ] choose taste. choose prego. bill: there's a top republican senator now demanding answers from the fbi director after not being briefed on their benghazi investigation for the last six months. four americans died in the assault on the u.s. consulate including our ambassador chris stevens. senator susan collins says she wants some simple questions answered. quote, are any of the suspects believed to be responsible for the deaths of these four americans including ambassador stevens in u.s. or libyan custody? how many suspects in the attacks are still at large? a few other questions after that. virginia republican congressman frank wolf has been fighting for answers in benghazi. he is our guest now. sir, good morning, welcome back. >>
it claims that it reduces the deficit over 10 years by $1.5 trillion. that is not correct. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've been buying ragu for years. [ thinking ] i wonderhat other questionable choices i've made? [ club scene music ] [ sigh of relief ] [ male announcer ] choose taste. choose prego. bill: there's a top republican senator now demanding answers from the fbi director after not being briefed on their benghazi investigation for...
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Mar 24, 2013
03/13
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hold on, mercedes, let's acknowledge what has happened, the deficits have dropped now for 3 straight years at a rate lower -- faster pace than we have seen since the end of world war ii. nobody wants to acknowledge that. but they are coming down because we did have to engage in emergency spenning when the chitanked and we are coming out of that. we have to have balance -- that's good. but what is really good is job creation and a strong economy. we are seeing the effects of austerity. they would trade our economy for theirs in a success. in realtime, as consequence of austerity. >> what do we do? 85% of americans want to see a balanced budget. we are not even anywhere near that with these plans? >> unfortunately, i think when you look at basic fact of the two budget proposals, we are so far apart and we need leadership from the president. we are able to find out what the president's march madness 56 are before we -- before he unveils his budget. again, i think that it really comes -- from president obama to take a lead, to keep meeting with republicans and enable to try to bring the
hold on, mercedes, let's acknowledge what has happened, the deficits have dropped now for 3 straight years at a rate lower -- faster pace than we have seen since the end of world war ii. nobody wants to acknowledge that. but they are coming down because we did have to engage in emergency spenning when the chitanked and we are coming out of that. we have to have balance -- that's good. but what is really good is job creation and a strong economy. we are seeing the effects of austerity. they...
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Mar 18, 2013
03/13
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make sure we have deficit reduction but don't cut too much too fast. take for scamel the sequestration. 700,000 american jobs will be lost. h is not the right time to do it. we have to phase this in and sequence it so we have economic growth and americans paying taxes. that really helps us recover. >> chris: senator corker, democrats and you just heard this sort of from dirk durbin but i heard it in more extreme forms from other democrats say it is more important to have economic growth than to deal with the national debt. your response? >> i think we should have economic growth and obviously we would like to see that happen and i think reducing the deficit helps cre create econoc growth. look, i think it is ridiculous to say that cutting $1.2 trillion over the next decade when we will spend $47 trillion of your money is a step too far. of course, we need to do that. and on top of that we need to build towards the entitlement reforms which obviously are creating the huge dent down the road. i think it was disappointing to all of us to have the presiden
make sure we have deficit reduction but don't cut too much too fast. take for scamel the sequestration. 700,000 american jobs will be lost. h is not the right time to do it. we have to phase this in and sequence it so we have economic growth and americans paying taxes. that really helps us recover. >> chris: senator corker, democrats and you just heard this sort of from dirk durbin but i heard it in more extreme forms from other democrats say it is more important to have economic growth...
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Mar 20, 2013
03/13
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modest deficits are perfectly compatible with fiscal responsibility. talk about singing a new tune. and the conservative think tank, the american enterprise institute asks why does the budget need to balance in ten years? debt reduction doesn't require balance, just that the economy is growing faster than the debt, while the plan does put the debt to gdp ratio on a downward trajectory, it probably doesn't need to be quite as steep. ezra klein, this is a big deal, and you're here on this show to prove it is a big deal. you would never come out this late if this wasn't a huge deal. >> absolutely not. >> this is huge. the debt is the reason we have to do all these terrible things to medicare, which we republicans really love. it is just the debt is forcing us to do it. there's no rationale. >> if you read paul ryan's budget, and i have read every iteration, the first ten pages of the budgets is the same, this is a very apocalyptic, mad max scenario about the kind of debt crisis america faces. a crisis which the currency is completely devalued. we print and print money, inflation races
modest deficits are perfectly compatible with fiscal responsibility. talk about singing a new tune. and the conservative think tank, the american enterprise institute asks why does the budget need to balance in ten years? debt reduction doesn't require balance, just that the economy is growing faster than the debt, while the plan does put the debt to gdp ratio on a downward trajectory, it probably doesn't need to be quite as steep. ezra klein, this is a big deal, and you're here on this show to...
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Mar 22, 2013
03/13
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creating huge deficits. republicans deny care about deficit at all -- do not care about deficits at all. what they do care about is cutting government. to quote grover norquist, it can b t in a bath tu [indiscernible] they call it something else but it would destroy both programs. their goal is to destroy government. corporations paid on average 40% of profits for taxes. arey large corporations 12ing about fall% -- about %. they ryan budget would lower that further. millionaires with a $200,000 tax cut -- would get a 200,000 todollar tax curt. t. host: a tweet -- is true.at if you looked at the budget, we have not had in the great increase in spending since obama took office except the that the food stamps and unemployment insurance. except in food stamps and unemployment insurance. programs we have enacted that are designed to increase during recessions like unemployment andrance and food stamps some money comes into the economy so the recession does not turn into a depression. the large deficits occur beca
creating huge deficits. republicans deny care about deficit at all -- do not care about deficits at all. what they do care about is cutting government. to quote grover norquist, it can b t in a bath tu [indiscernible] they call it something else but it would destroy both programs. their goal is to destroy government. corporations paid on average 40% of profits for taxes. arey large corporations 12ing about fall% -- about %. they ryan budget would lower that further. millionaires with a $200,000...
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Mar 20, 2013
03/13
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we always have deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the house not too long ago. so it's this change that they have a problem dealing with, chris. and let me get to the point about -- >> why would somebody care -- i always wondered about this. why would somebody who is white care about whether the country is white 100 years from now? they're not going to be here. and the people here would be comfortable with it. your nature will change with the country's nature. it does sound like pure racism. if you want the country to be tribally white 100 years from now. i don't know why a black person would care either. why do people specul
we always have deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the...
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deficit so on a scale of that you can see how big the problem is not just within the eurozone but also globally but you're quite right i mean it is a huge problem it's something which the cypriots government has failed to come to terms with it we are today that it the government received a warning from the european central bank as far back as two thousand and ten saying that there were there that management economy of interest or not where they were running an increase in state sector employers or wages of six percent when the economy was contracting which was simply unsustainable and so it's proven but so what you're saying that this one of solution in a very small economy could actually have a major impact on the european banking sector as a whole and indeed confidence in the euro zone. that's certainly true and you're making an assumption this is this is a war not far not even sure that's the case what you mean it could happen again that we're probably going to get tax you mean this could be actually implemented and then that should have implemented elsewhere then in other bailout d
deficit so on a scale of that you can see how big the problem is not just within the eurozone but also globally but you're quite right i mean it is a huge problem it's something which the cypriots government has failed to come to terms with it we are today that it the government received a warning from the european central bank as far back as two thousand and ten saying that there were there that management economy of interest or not where they were running an increase in state sector employers...
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Mar 18, 2013
03/13
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make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first degree weather update with ma r maria molina. >> maria is in the weather center tracking another storm. is that right? >> yes. a brand new storm impacting portions of the upper midwest today and we are expecting to see snow from the same system into the northeast as we height. we could be seeing significant accumulations especially across places in new england. want to start out with high temperatures. we are seeing wild disparities as far as the temperatures go. take a look at minneapolis. 30 degrees for the high temperature today. it will feel more like january than march. in san antonio you could see record heat 93 degr
make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first...
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Mar 21, 2013
03/13
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. >> 71% of likely voters say getting control of the federal deficit should be the top priority for congress this year. 52% say immigration reform is a top issue. 42% say new gun control policies are the most important issues. and 33% say efforts to combat climate change should be the priority. >> 7:08. we know what sal's priority is keeping a close eye on traffic. >> okay. right now we are looking at a community much better than it was yesterday. we have slow downs obviously. let's take a look at the bay bridge. earlier minor crash. didn't last for too long. but the metering lights were turned on and slowed down for a bit. so it's a little worse than it normally is. backed up to the mc arthur maze. 30-35 minute delay. if there are no other problems on the bridge, this will begin to wind out and by 8:00 see an improvement. this morning's commute has been busy on 880 between hayward and fremont. we're talking about the livermore valley as well. westbound 580 slowing coming in over the pass. but no problems into castro valley. let's go to steve. >> thank you. mostly clear. patchy low clouds. t
. >> 71% of likely voters say getting control of the federal deficit should be the top priority for congress this year. 52% say immigration reform is a top issue. 42% say new gun control policies are the most important issues. and 33% say efforts to combat climate change should be the priority. >> 7:08. we know what sal's priority is keeping a close eye on traffic. >> okay. right now we are looking at a community much better than it was yesterday. we have slow downs obviously....
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Mar 23, 2013
03/13
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because the bases shall -- of both parties are opposed to the essential elements, entitlement reform and deficit reduction. >> but the difference between this grand bargine and the one two summers ago would be that you're in a world where the deficit might naturally be declining as well the would that make any difference? >> the problem is i don't think you can -- you still have to have revenue for this to be acceptable. ches -- i think it's clear that there won't be increased rates. that's not going to happen. so can this happen? can they tackle tax reform? >> you are also saying medicare costs are beginning to level off. they don't know why, but it's happening. for the first time in years, the democratic senate is actually considering a budget and that means there is possibly a good chance there is going to be a conference committee between the republican house and the democratic senate on the budget that could provide another opening of a bit of a window to again put some of the bigger ideas on the table the gwen: it's also possible that the sequestration, the word i hate to use, but the acro
because the bases shall -- of both parties are opposed to the essential elements, entitlement reform and deficit reduction. >> but the difference between this grand bargine and the one two summers ago would be that you're in a world where the deficit might naturally be declining as well the would that make any difference? >> the problem is i don't think you can -- you still have to have revenue for this to be acceptable. ches -- i think it's clear that there won't be increased...
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Mar 21, 2013
03/13
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because, you know, there's kind of a trust deficit here now. if i was living in spain or italy, i might be thinking about putting my money someplace aside from a shaky bank right now. >> reporter: so the trust deficit stems from the original proposal was that they should tax not just uninsured deposits, but also insured deposits. imagine if you were living in the united states and even though we have fdic insurance up to $250,000, you were told that actually you're not going to get all $250,000 of your dollars, they were going to take a piece of that. that was the earlier proposal from earlier this week and that's what they thought would worry the italians and the span yards that they didn't even have insurance protection like they thought they did. that proposal has since been voted down, gone away. the banking situation here is unique compared to italy and spain. it's just so much bigger, it's not really comparable. >> thank you so much, michelle, we greatly appreciate it. and thank you, rona, we appreciate it as well. i think we learned some
because, you know, there's kind of a trust deficit here now. if i was living in spain or italy, i might be thinking about putting my money someplace aside from a shaky bank right now. >> reporter: so the trust deficit stems from the original proposal was that they should tax not just uninsured deposits, but also insured deposits. imagine if you were living in the united states and even though we have fdic insurance up to $250,000, you were told that actually you're not going to get all...
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Mar 19, 2013
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so here you have two republicans who are very much concerned about deficit reduction who say this budget won't do it. >> okay, congressman. as you know, house democrats are also out with their budget. joining senate democrats in calling for more revenue as well as spending to create jobs. but paul ryan didn't seem too optimistic about this this morning. take a listen to what he said. >> all the democratic budgets have one theme. more taxes, higher spending, never balancing the budget. if you look at these two budgets, yeah, we're two worlds apart. we're literally on different planets. >> he says you're literally on different planets. do you, therefore, have any hope of a compromise? >> well, not very much with paul ryan. i do believe that as steny hoyer, the himinority whip said he thinks republicans are going to have a difficult time getting votes for this budget. as we remember, the republican presidential candidate in 2012 ran away from the ryan budget which was not nearly as severe as this one is. so he's going to have problems with his own members in the republican conference and on
so here you have two republicans who are very much concerned about deficit reduction who say this budget won't do it. >> okay, congressman. as you know, house democrats are also out with their budget. joining senate democrats in calling for more revenue as well as spending to create jobs. but paul ryan didn't seem too optimistic about this this morning. take a listen to what he said. >> all the democratic budgets have one theme. more taxes, higher spending, never balancing the...
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Mar 23, 2013
03/13
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it's the worst deficit that we've had, and nobody knows. >> social security is easy to fix. you lift the cap right now if >>> predictions. pat. >> immigration reform passes the house. republicans kill it in the senate. >> eleanor. >>next state to legalize gay marriage. >> what state? >> illinois. >> susan. >> immigration reform is going to run into big trouble in congress. >> really. mort. >> what i think the economy is going to remain >>> i predict that president abi of japan trying to revitalize his economy by loosening its grip on inflation will overshoot. he will go into debt, it will go into debt
it's the worst deficit that we've had, and nobody knows. >> social security is easy to fix. you lift the cap right now if >>> predictions. pat. >> immigration reform passes the house. republicans kill it in the senate. >> eleanor. >>next state to legalize gay marriage. >> what state? >> illinois. >> susan. >> immigration reform is going to run into big trouble in congress. >> really. mort. >> what i think the economy is going...